Which of the following is correct concerning "window dressing" for cash?
A. A segregation of duties within the cash function effectively eliminates its occurrence.
B. It generally involves manipulation of inventory.
C. It is illegal, and an audit is designed to provide reasonable assurance of its detection.
D. Many forms of it require no action by the auditors.
D. Many forms of it require no action by the auditors.
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Which of the following resources is usually not modeled as an entity (table) in an REA data model?
A. Cash. B. Accounts receivable. C. Inventory. D. Property, plant and equipment.
Answer the following statement(s) true (T) or false (F)
1. The prospectus is a statement that gives potential investors information about the firm, the management of the firm, its operations, and the purpose for the stock issue. 2. For an investment banker “best efforts” means that it has prepurchased a stock offering at less than par value and is making its best effort to sell the stock to other underwriters who will then sell the stock to the public. 3. Professional investors who invest for large groups such as pension funds are known as institutional investors. 4. Investors should invest in growth stocks if their goal is maximum dividends. 5. Investors should invest in security stocks if their goal is maximum rate of return.
What is the main purpose of appellate review?
a. Review the case to see if the appellate judges agree with the outcome at the trial court b. Review what happened at the trial court to make sure that the trial was fair c. Issue warrants d. Hear testimony from witnesses
Most of the Sarbanes-Oxley Act relates primarily to:
A. Auditing. B. Court-invoked penalties for violating the law. C. Corporate governance. D. Financial accounting. E. All of the answers are correct.